European stocks slip again with tech stocks falling the most as investors brace for hawkish Fed update

European shares slipped in early deals on Monday, with technology stocks falling the most after worries about tighter monetary policies triggered a bruising sell-off in global equities last week.

The pan-European STOXX 600 index slipped 0.4% by 0814 GMT, with Asian stocks also under pressure as investors braced for a hawkish update from the Federal Reserve this week.

Market participants were also concerned about a possible Russian attack on Ukraine with the U.S. State Department pulling out family members of its embassy staff in Kyiv.

Tech stocks fell 1.2%, hitting fresh 14-week lows, after growth stocks on Wall Street were pummelled by prospects of rising rates last week.

There were bright spots among individual stocks, with Renault jumping 3.8% as the French carmaker, Japan’s Nissan Motor Co and Mitsubishi Motors Corp planned to triple their investment to jointly develop electric vehicles, sources told Reuters.

Helping limit losses in UK’s blue-chip FTSE 100, Unilever climbed 4.6% after reports that Trian Partners, Nelson Peltz’s activist hedge fund, has built a stake in the consumer goods company.

Meanwhile, the telecom sector got a boost as Vodafone rallied 4% after Reuters reported the company and Iliad were in talks to strike a deal in Italy that would combine their respective businesses.